Nicholas Biddle

Nicholas Biddle

Male 1786 - 1844  (57 years)    Has 56 ancestors and 9 descendants in this family tree.

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  • Name Nicholas Biddle 
    Relationshipwith Francis Fox
    Born 8 Jan 1786 
    Gender Male 
    Died 1844 
    Person ID I367636  Geneagraphie
    Links To This person is also Nicholas Biddle at Wikipedia 
    Last Modified 29 Jan 2002 

    Father Charles Biddle,   b. 24 Dec 1745,   d. Yes, date unknown 
    Mother Hannah Shephard,   b. Abt 1762,   d. Yes, date unknown 
    Siblings 10 siblings 
    Family ID F145492  Group Sheet  |  Family Chart

    Family Jane Craig,   b. 1792,   d. Yes, date unknown 
    +1. Edward Biddle,   b. 1815,   d. 1872  (Age 57 years)
     2. Charles John Biddle,   b. 30 Apr 1819,   d. 29 Sep 1873  (Age 54 years)
     3. Craig Biddle,   b. 1823,   d. 1910  (Age 87 years)
     4. Meta Biddle,   d. Yes, date unknown
    Last Modified 29 Jan 2002 
    Family ID F145493  Group Sheet  |  Family Chart

  • Photos
    Nicholas Biddle
    Nicholas Biddle

  • Notes 
    • Fortune : 100,000 $ (1844)
      1,000,000 $ 1840
      500,000 $ 1825
      Activity : Banking
      Main property: 2nd Bank of the United States (president 1823-36), later US Bank of Pennsylvania
      Other activities: cotton trade, landowner
      Associated properties: Humphreys & Biddle (Liverpool); Andalusia estate near Philadelphia
      Politics / Public offices: Member of Pennsylvania State Legislature

      Still in his teens, Nicholas Biddle studied, first at the University of Pennsylvania, then at Princeton. Biddle graduated in 1801, at the age of fifteen, too young to engage in a profession. He went on studying law at home and became the personal secretary to General John Armstrong, when the latter was named US Ambassador to France in 1804. During his years in Paris, Biddle forged friendship with James Monroe, the future president of the United States. After his return to Philadelphia, Nicholas Biddle practiced law in his brother William’s office, wrote literary articles for magazines and edited the journals of Lewis and Clark. Elected to the lower house of the Pennsylvania State Legislature, Nicholas Biddle impressed with his congressional address defending the First Bank of the United States in 1811. Congress failed to renew the charter of the BUS, but Biddle should have a chance to serve as a board member and later president of the second Bank of the United States. In 1819, his friend James Monroe appointed him a director, and in 1823, Biddle was named president of the institution, which was then the country’s largest corporation and foremost banking house. Biddle proved an able banker both building value for the bank’s shareholders and maintaining the precarious financial markets in equilibrium. His long unchallenged position as the nation’s foremost banker conferred him powers only surpassed by the US president. However, Biddle’s stubborn ignorance of president Andrew Jackson’s proposed alterations to the bank’s charter led to the demise of the Second Bank of the United States in 1836. Biddle went on running the bank on a Pennsylvania State charter and involved it in a series of cotton speculations, which were first successful but later produced heavy losses under which the bank eventually failed. Biddle retired on his country estate “Andalusia” where he had experimented in agriculture in his pre-banking years.

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